KUALA LUMPUR, July 19 (Bernama-VNA) -- Major trading partners Malaysia and Vietnam should work closely to draw more investments in the Association of Southeast Asian Nations (ASEAN) region, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.
In an interview with Vietnam News Agency (VNA)’s correspondents in Kuala Lumpur ahead of Prime Minister Anwar Ibrahim’s official visit to Vietnam from July 20 to 21, the minister said he will accompany the prime minister with the aim of promoting trade and investment ties between the two countries.
He emphasised that Malaysia ranked fourth for Vietnam among ASEAN members and that Vietnam and Malaysia are significant ASEAN trading partners.
Malaysia is Vietnam's third-largest foreign direct investor in the area, and there is still opportunity for the two nations to improve their cooperation in trade and investment, particularly the export and import of agricultural and aquatic goods.
He suggested that, aside from agriculture, the two nations work together in the green and digital economies, where both are investing heavily and that they be ready to enter markets outside of ASEAN.
According to Tengku Zafrul, the two nations ought to cooperate in order to sell halal goods to markets outside of ASEAN.
The minister stated that he thought there was much potential for Vietnamese and Malaysian businesses to collaborate, adding that while cosmetics and health care will be taken into consideration, food and agriculture should come first.
According to Tengku Zafrul, representatives from the Malaysia External Trade Development Corporation (MATRADE) and the Malaysian Investment Development Authority (MIDA) will also be accompanying the prime minister.
They are scheduled to hold working sessions with Vietnamese businesses that target exports to Malaysia.
The minister said that his ministry would organise the annual Malaysia International Halal Showcase in September, with participation from several domestic and international enterprises, and expressed hope that Vietnamese companies will view Malaysia as the worldwide centre for the export of halal products.
-- BERNAMA-VNA
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